klingeme 1 #26 September 25, 2008 QuoteQuoteQuote>The claim that the market caused all this is so staggeringly foolish . . . Of course the market caused this. Control of interest rates provided a framework, Fannie Mae and Freddie Mac provided vehicles for poor decision-making, and deregulation gave bad behavior a green light - but market decisions are the direct cause. Ron Paul is usually smarter than that. He's falling into the same "BLAME! BLAME! Give me someone to BLAME!" silliness that everyone else is. Do you think no-one is to blame? I think he clearly described the problem. Some provided framework, some gave the go-ahead, and some bit off way more than they could chew. Do you think one person or entity is to blame? I think the majority of the blame should be passed on the people who took the loans/credit when they could not afford it. Yes the people with the money were wrong in offering it, but those people should have been responsable enough to say no thank you. Quote Share this post Link to post Share on other sites
billvon 3,006 #27 September 25, 2008 >I think the majority of the blame should be passed on the people who >took the loans/credit when they could not afford it. They are to blame for their losing their homes - not for the mess the financial market is in now. That was caused by traders dealing in debt instruments that looked too good to be true (and were.) Quote Share this post Link to post Share on other sites
kallend 2,027 #28 September 25, 2008 QuoteI'm already cute, but thanks for asking. It's part of a foundation of thinking that has affected the majority of our poor financial decisions in this country. Teaching a kid fresh into college that over-extending themselves leads right into them thinking it's the American way of money. You have evidence this doesn't contribute? I have seen no evidence that it does. It's hard to prove a negative.... The only sure way to survive a canopy collision is not to have one. Quote Share this post Link to post Share on other sites
jcd11235 0 #29 September 25, 2008 QuoteQuotesound, Austrian economics Now there's an oxymoron.Math tutoring available. Only $6! per hour! First lesson: Factorials! Quote Share this post Link to post Share on other sites
normiss 806 #30 September 26, 2008 Quote I have seen no evidence that it does. So you've not looked then.... I figured as much. Odd what life experiences will teach a person. More so when we're young and impressionable. Quote Share this post Link to post Share on other sites
marks2065 0 #31 September 26, 2008 Quote Quote I cannot people see the housing and market crash as a surprise. I was yellin this several years ago when I was still in college. When I saw crack homes on the market in denver for $150,00-$200,000. People paying inflated prices for a home because they heard on the news home prices were skyrocketing and they thought they could make a quick buck. So fuck the lenders and fuck the dumb asses who signed a shitty mortgage deal. Now people say some people were dooped into a bad deal on there home when they financed it. You mean to tell me some asshat was about to spend $300,000 on a home they could never afford before but now somehow they can but they couldnt spend $500 to have lawyer look at the contract for them and explain it to them? They gambled and they lost! Tough shit! Take your lumps and move on. When my dads company went bankrupt nobody was there to bail him out. He learned from it and moved on. Wall ST. wants us to bail them out now? What about the last 10 years when they have been rollin in the dough? Didnt hear shit then. Now they made bad decisions and lost and want our help. FUCK THEM! This entire bailout is a disgrace. 10 years? Brilliant, gotta tie everything into the Clinton Admin, even if you have to fabricate. I bought a house 10 years ago, they were reasonably priced wth 7% interest. They would appreciate about 4-5% per year; nothing crazy about it. ---------------------------------------------------------- the problem did start back about 1994. the mortgage back securities is the problem. the give any one a loan (mainly to help lower income people get a house) is the pin that popped the balloon Quote Share this post Link to post Share on other sites
jcd11235 0 #32 September 26, 2008 Quotethe problem did start back about 1994. the mortgage back securities is the problem. the give any one a loan (mainly to help lower income people get a house) is the pin that popped the balloon It sounds like you are confusing GLBA with CRA.Math tutoring available. Only $6! per hour! First lesson: Factorials! Quote Share this post Link to post Share on other sites
